Top Stories
Top Stories

Cloud growth fuels Oracle's third-quarter revenue beat

March 14 (Reuters) - Oracle Corp beat third-quarter revenue estimates on Thursday, as the business software maker benefited from growth in its cloud services and license support business.

The company posted a net income of $2.75 billion, or 76 cents per share, in the three months ended Feb. 28, compared with a net loss of $4.05 billion, or 98 cents per share, a year earlier. It recorded a $6.9 billion charge in the year-ago quarter due to the U.S. tax reform.

Total revenue dipped to $9.61 billion from $9.68 billion, but beat analysts' average estimate of $9.59 billion, according to IBES data from Refinitiv. (Reporting by Vibhuti Sharma in Bengaluru; Editing by Sriraj Kalluvila)